Business
Shehu Sani Compares NNPC and Dangote Refinery to ‘Cain and Cain’ Over Fuel Prices
Amid ongoing debates over the pricing template for petrol, former senator Shehu Sani has drawn an intriguing comparison between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL).
Sani remarked that many Nigerians initially saw the relationship between the two as reminiscent of the biblical brothers Cain and Abel, where one would represent good and the other, evil.
However, he suggested that the reality has proven otherwise, with both entities resembling “Cain.”
Taking to social media platform X, Sani posted, “Most people thought that Dangote and NNPC are like Cain and Abel.
Now they found out that they are Cain Junior and Cain Senior,” implying that neither company is living up to the positive expectations of Nigerians.
This reaction comes in the wake of the NNPC’s recent release of estimated petrol prices for September 2024.
According to the state-run oil company, it is purchasing petrol from Dangote Refinery in U.S. dollars, which has significantly influenced the retail price of Premium Motor Spirit (PMS) across Nigeria.
The NNPC stated that the petrol purchased from the Dangote Refinery gantry was bought at N898.78 per litre.
With logistics costs factored in, the price of petrol in Lagos will reach an estimated N950.22 per litre.
In cities such as Abuja, Sokoto, and Kano, prices are expected to be around N999.22 per litre.
Other regions are also grappling with high pump prices. In states like Rivers, Akwa Ibom, Bayelsa, and Imo, fuel is estimated to be sold at N980 per litre.
The highest recorded price is in Borno State, where the cost of petrol is expected to soar to N1,019.22 per litre.
The rising cost of petrol has sparked widespread frustration among Nigerians, who had hoped that the opening of the Dangote Refinery would help stabilize prices.
Many had anticipated that Dangote and NNPCL would work together to alleviate the economic burden on citizens, but the continued rise in fuel prices has led to disillusionment.
The Federal Government trains 500 women and youths in food production and agriculture. The programme was started to support food security.
The Federal Ministry of Agriculture and Food Security partnered with the National Horticultural Research Institute (NIHORT).
The women and youths were taught tomato, okra and Telfairia production techniques. The government believes this will help boost agriculture, improve food production and strengthen the economy in Ogun State.
According to reports, fuel stations are reducing their prices a bit. This has become a general thing around Nigeria after the spike due to the removal of subsidy.
The prices are dropping to ₦1,275 and ₦1,299, going lower than ₦1,300 compared to what it was before.
MTN has moved closer to acquiring IHS Holding, following shareholder approval of the proposed takeover, marking another major milestone in the transaction.
The approval was secured during the Extraordinary General Meeting (EGM) held on 4 August, allowing the deal to progress to the next stage.
If completed, the acquisition is expected to strengthen MTN’s infrastructure capabilities by giving the company greater control over its telecommunications tower assets. Industry analysts believe the move could improve network efficiency, reduce long-term operating costs, and support MTN’s continued expansion across its markets.
The transaction is still subject to regulatory approvals and other closing conditions before it can be officially completed.
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